Pebblebrook Hotel Trust (NYSE:PEB) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Pebblebrook Hotel Trust (NYSE:PEB) from a sell rating to a hold rating in a research report report published on Thursday.

Separately, Truist Financial reduced their target price on Pebblebrook Hotel Trust from $16.00 to $15.00 and set a hold rating on the stock in a research report on Thursday, May 30th. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $14.42.

Pebblebrook Hotel Trust Stock Performance

PEB stock opened at $12.41 on Thursday. Pebblebrook Hotel Trust has a one year low of $11.39 and a one year high of $16.65. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of -12.17, a PEG ratio of 0.62 and a beta of 1.84. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a 50-day simple moving average of $13.08 and a two-hundred day simple moving average of $14.29.

Pebblebrook Hotel Trust (NYSE:PEB) last announced its earnings results on Wednesday, July 24th. The real estate investment trust reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.42). The firm had revenue of $397.11 million during the quarter, compared to analyst estimates of $396.29 million. Pebblebrook Hotel Trust had a negative net margin of 6.75% and a negative return on equity of 3.40%. Pebblebrook Hotel Trust’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business earned $0.62 earnings per share. On average, equities analysts forecast that Pebblebrook Hotel Trust will post 1.53 EPS for the current fiscal year.

Pebblebrook Hotel Trust Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.04 dividend on an annualized basis and a yield of 0.32%. Pebblebrook Hotel Trust’s dividend payout ratio is currently -3.92%.

Insider Buying and Selling at Pebblebrook Hotel Trust

In other news, Director Phillip M. Miller sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $13.29, for a total value of $46,515.00. Following the completion of the transaction, the director now directly owns 13,098 shares in the company, valued at $174,072.42. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Phillip M. Miller sold 3,500 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $13.29, for a total value of $46,515.00. Following the transaction, the director now owns 13,098 shares in the company, valued at approximately $174,072.42. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jon E. Bortz acquired 22,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were acquired at an average price of $12.21 per share, with a total value of $268,620.00. Following the completion of the purchase, the chief executive officer now owns 1,341,284 shares in the company, valued at approximately $16,377,077.64. The disclosure for this purchase can be found here. Company insiders own 2.40% of the company’s stock.

Institutional Investors Weigh In On Pebblebrook Hotel Trust

Hedge funds have recently added to or reduced their stakes in the business. Quarry LP lifted its holdings in shares of Pebblebrook Hotel Trust by 2,376.9% in the 2nd quarter. Quarry LP now owns 4,508 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 4,326 shares during the period. Algert Global LLC purchased a new position in Pebblebrook Hotel Trust during the second quarter valued at approximately $167,000. The Manufacturers Life Insurance Company lifted its holdings in Pebblebrook Hotel Trust by 3.8% in the second quarter. The Manufacturers Life Insurance Company now owns 65,587 shares of the real estate investment trust’s stock valued at $902,000 after acquiring an additional 2,407 shares during the period. D. E. Shaw & Co. Inc. boosted its position in Pebblebrook Hotel Trust by 38.1% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 1,963,388 shares of the real estate investment trust’s stock worth $26,997,000 after purchasing an additional 541,573 shares in the last quarter. Finally, Earnest Partners LLC boosted its position in Pebblebrook Hotel Trust by 1.0% in the 2nd quarter. Earnest Partners LLC now owns 5,036,155 shares of the real estate investment trust’s stock worth $69,247,000 after purchasing an additional 51,677 shares in the last quarter.

Pebblebrook Hotel Trust Company Profile

Pebblebrook Hotel Trust (NYSE: PEB) is a publicly traded real estate investment trust ("REIT") and the largest owner of urban and resort lifestyle hotels and resorts in the United States. The Company owns 47 hotels and resorts, totaling approximately 12,200 guest rooms across 13 urban and resort markets.